QuickBooks is a cloud-based accounting designed for small and medium businesses that assist in creating invoices and tracking business expenses, sales, and profit.
With the hosted QuickBooks, businesses can update accounting books, track accuracy, monitor accounting operations, and track all business activities in one place. The software grants access to business data from any location and device requires no installation, grants unlimited high speed and instant access, and regularly backs up files.
Local installation is the process of making software available for use in a certain place or destination such as a directory, hard drive, hard disk, or computer system. Although locally installed software may give the user more control over business data and may not require an internet connection, the installation of the software takes up more storage space, requires regular updates and backup of files, does not allow easy sharing of data, and may constantly face bug issues.
Benefits of Using Hosted QuickBooks
Users of hosted QuickBooks enjoy unlimited access to business files by multiple users at a go. This helps to improve communication for businesses with multiple offices by allowing instant sharing of data from different locations. This multi-user access feature helps to increase service to customers and prompts a quick response in customer service. With this, businesses can improve profit rates and the quality of their services, exchange and edit files, and notify other users promptly. Multiple access also allows for improved collaboration and accuracy.
Additionally, hosted QuickBooks permits the limitation over user access, thus high-level data can be adequately protected while other users share information.
A locally installed software grants access in a specified location and do not permit access to the same data file by multiple persons at the same time. Rather, the software is installed separately in each of the computer systems and users access the files separately. Collaboration and file exchange here is limited.
Unrestricted Access and Devices
Hosted QuickBooks is suitable for workers who work remotely at different times and locations as access is required with only a local device and a web browser. Unlike local installations that only grants access via the computer system it is installed in, hosted QuickBooks is available in a highly optimized remote server that allows for unrestricted availability. For better access, users with local installations would have to move around with these devices which may be inconvenient. Hosted QuickBooks requires no installation, unlike the local installations.
Data storage in the cloud is a safe and reliable means that helps to prevent critical data loss. With this data storage form, disasters such as fire outbreaks, floods, earthquakes, or destruction to IT infrastructure would not lead to the total loss of business data. Even in situations of server failure, data would still be readily available at several locations. This is in contrast to local installations where disasters lead to permanent loss of files.
Hosted QuickBooks is developed and designed with several security layers that help to counter common internal disasters. The software employs high-end surveillance features, firewalls, and antivirus tools that help to regularly monitor and strengthen the system against cyber attacks. These features equip businesses to effectively guard themselves and resources and maintain their reputation
A local installation would demand a regular backup of data by the user to prevent data loss. This is in contrast to Hosted QuickBooks where the vendor backs up the files regularly in multiple locations across protected data centers. Also, data is encrypted during file transfer to prevent leakage.
The Cloud Service Provider (CSP) of hosted QuickBooks helps to improve user experience by managing factors like inflexible IT infrastructure, low computational storage, and sudden power failure. The CSP manages all that is needed to improve performance and access to modern technology.
In addition to granting round-the-clock access to users, hosted QuickBooks helps businesses to minimize their expenses by reducing the cost of purchasing, setting up, and maintaining multiple IT infrastructures. More so, additional workspace is created and employees can work remotely thus improving convenience, reducing travel time and expenses.
Hosted QuickBooks provides unlimited access to data, provides a more secured system to share files, allows for multi-user access at a go, provides instant and high-speed connectivity to business data. Local installation requires restricted user access, can only be accessed upon installation, and does not provide a secured backup system for data.